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greece they are not a monolithing society. for some people that would be totally impossible to utter a word or a sound. for other people it's cathartic to open up and express their love and devotion and to have the final words over someone they love. i try very much as a pastor not to among their relationships and emotions and how they use to commemorate the person they leaply will have. >> as a reporter i like to get as many information as you can. i want to know every detail about everything and that's a way of processing it, managing it. people must ask you questions you cannot answer. and they say where was god when this happened? >> it's precisely as you is asaid i've tried to avoid answers goesable temporary. there are some things that are handeds now life that we do not know or understand. these areas, ambiguous areas where we don't have a deficit answer it's better not to give any answer at all than to give one inappropriate. that's why we have faith for those things we cannot explain and point to directly, we have to frtrust god and lean on him get through the sufficient tim
in greece is what's happening in detroit. austerity cuts. >> we're seeing a big bailout -- >> right. >> starting with the auto industry. the white house is giving money for new police stations, homeland security is trying to sustain the fire department in detroit. we're talking about a series of bailouts that continue in order to keep detroit proposed up. i don't know how long that is sustainable. >> the movecy called "detropia." you just made the academy awards documentary short list. congratulations on that. >> thank you. >> good luck with it. >>> we've got to take a short break. just ahead, we'll talk syria. we'll discuss that. space needle, pot party there broke out there right at midnight. i wonder why. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ ma
this yesterday that greece has priced the debt buyback where it has. it will be more generous and next week they're likely to get their money from the rest of the european union. taking some of those concerns back out of the market so, again, today the spanish bond market rallying and, therefore, the yield forming. still above 5% but falling. it's also true of italy. there the yields are down. take a look at where we are on the ten year, 4.4% and those bonds rise in value, you see the italian banks, for example, rising in value. the stock market, it's obvious the value of their assets is gaining ground. other financials around europe, the likes of kbc, bank of ireland, a lot of questions to the degree the irish can get better terms for their bailout or deal as a result of what the greeks have been given. there is -- and carl mentioned this, one area of concern today, and that's the finance minister's meeting where the frie french and the germans seem at odds over how they're going to get banking union, the germans are saying it cannot -- the individual banks cannot all be controlled by the ecb,
is considered crucial for greece's efforts to resolve the financial problem. >>> and the european union has fined tv and computer monitor makers about $2 billion saying those companies fixed monitor tube prices for a decade which ended in 2006 talking about companies like philips, lg, and panasonic among the companies fined. philips, which was assessed the biggest chunk of the penalty says it will appeal the ruling. >>> and mortgage applications rose 4.5% last week according to new figures from the mortgage bankers association. most of the increase was accounted for by a rise in refinancing activity. >>> all right. the dollar hitting a six-week low on uncertainty about whether a budget deal would be reached. meantime, oil continues to trade below $90 a barrel. joining us this morning, chief market strategist at worldwide markets. also kevin book who is managing director at clear view energy partners. and joe, let's start off talking about the dollar. i can't make heads or tails of why the dollar is under so much pressure. i know things are bad here, we're worried about the fiscal cliff. but
do to improve the fate of our country so we will not become greece. no one is more worried about this nation's unsustainable debt situation than senator demint. i've seen him deinvolve over time to someone who could just not sit quietly, who had to take up the cause. in the 2010 election cycle, he was one of the strongest voices this he had would a lost our way -- that we'd lost our way in washington. jim is a kind, sincere man, an individual who is a joy to be around. when it comes to what's going on in america, jim understands that if we don't make some changes we're going to lose our way of life. that's what's driven him above all else, to try to keep our country a place to be place where you can be anything. i look forward to working with jim in the private sector. from a personal point of view, we've had a great ride together. it has been fun. it has been challenging, and i think we put south carolina on the map in different ways at different times, and to people back in south carolina, i hope if you get to see jim anytime soon, just say "thank you." because whether you agre
, a finance ministers' meeting is beginning, which they will say, look, greece, we will make up the half billion that you're short on the bond buy-back. a deal is a deal. and this month, 34 billion euros will flow from bailout funds into the greek banks to recapitalize them. more importantly perhaps, tomorrow we go into a full meeting of all 27 heads of state of the european union. germany is back down. looks like we have a deal on banking union. the ecb will supervise all banks presumably in the euro zone. that means the ecb will be able to directly tap into those bailout funds and recapitalize the banks, plugging in across the euro zone. this is hugely important in building those firewalls against contagion. the result of the stock market is that you continue to get gains. the top 50 blue chips in europe is the white line. the dow jones industrial average is the yellow. this is a chart since the results of the election. as we are mired in the fiscal cliff here, they've been able to make almost 4% gains on their top blue chips. meanwhile, also worth mentioning that, after the sell-off w
% the last month. the eu finance ministers' plan to give money to greece, will the rally continue? todd gordon is with us aspen trading you. morning to you, todd. >> hey, simon. >> we have failed twice to get through 1.31 on the euro. where do we go from here? >> the fourth time we tried? the euro support and european finance ministers rather busy, appoint the ecb to head up a eu banking regulation which unfortunately you won't take effect until march 2014. the meantime we need to rely on esm for support. the other side, german finance minister wrote off the lower bank, congress that they approve a greek aid bailout. looks to be euro fairly support. >> interesting you argue that. in is the point here that the fed is accelerating on debasing you the dollars, that is why the euro rises? >> really interesting. that was the trade yesterday. the take away from the fed's statement. we reached a new high in qe 4, 85 billion a month, purchased and treasuries and mds that put the dollar to heel. overnight, reaction to the fed, overnight you can the dollar stayed very offered and i think despite
a year. the equivalent of about $55,000. the current top tax rate in greece is 45% for those earning more than 100,000 euros. finally, business sentiment in europe is slumping in part due to economic uncertainty ahead of this weekend's election. the bank of japan sentiment index dropping to minus 12 from minus 3 in the prior quarter. that was a bigger drop than economists were expecting. mr. kernen? >> all right. getting all these things. so you like he's like bloomberg? no 16 ounce -- >> guy runs -- >> you know. >> no 16 ounce anything over that in sugared drinks. comments, questions about anything you see here on "squawk," e-mail us at squawk @c in.com. you can also follow us on twitter @squawkcnbc. still to come this morning, john mcafee. in the flesh. well he won't be here but on camera. in his first interview since arriving back in the states. an interview you've got to see. plus. have you seen these? want to know how to use them? one of the new ways retailers are hoping to win over consumers. we're going to explain qr codes. the bar code guy died yesterday. can i help you? i heard y
kind of fiscal order. if not, we will become greece in 20 years. guest: that is a great point to bring up. leaders on both sides of the aisle on capitol hill have made the point that this is not a democratic or republican issue. there is waste to be curbed. what i am hearing from republicans like jon kyl is that you have to make sure america is still able to make its commitments on the world stage. we spoke with a lot of defense- heavy representative, folks from the house armed services committee. they can see that there are cuts to be made. it is just about doing it in a responsible manner rather than across the board cuts, which is less discriminatory than most defense advocates would like. host: we have earl in street louis on our line for democrats. go ahead, - st. louis on our line for democrats. caller: i was just wondering about the defense industrial complex that president eisenhower made the comment about. the defense contract workers are union workers. i do not hear the republicans hollering about that. i am is retired veteran. i think it is time we cut back on defense progra
side not the call side. they basically said to me, hmm we're not concerned about greece. we're not concerned about the economy. why don't you have these put calls they're really almost for free. we bought puts so we didn't have a loss in that drawdown. then we listen again. and we didn't have to -- again, we don't have to be that smart. okay. we're not that smart. again, we get into the next time, and draghi is talking about this, that the other, talking about this put and boy he did. he gave away this put. people not listening to it. you know what we did when we heard about that? we got invested. and that worked too. then we got into this election and said boy doesn't look like the market is going to be happy about this election, because obama is going to win. whether or not that was right or wrong, and they're going toish concerned about the fiscal cliff. we took down our position again. now when the market went down again, we said, okay, what are we going to do now? hmm, they're giving away call puts. call premium now. call premium traded really cheap. what should we do?
because nobody wants to see us see what happened ieurope and greec it does not have to happen here. in conjunction with that, this has to be the best place in the world to do business. economic growth, if we grow our economy, it will help our debt and, of course, more opportunity for everyone. so i hope to work with everyone on this table -- everyone at this table on those issues. worse, always making sure -- of course, always making sure that america is safe. [applause] >> thank you. >> my number one priority echoes what kelly said. we need to come up with a deal that keep us from the automatic spending cuts that go into effect in january and deal with a senior tax system -- a saner tax system. we can follow a framework as recommended by the simpson- bowles commission that will allow us to protect benits but will also make some of the tough choices that kelly was talking about. i think we have to put everything on the table for that kind of a deal. we have to look at revenues. we have to look of the domestic side of the budget. we of the look of the defense side. and we have to lo
's and ambassador to greece request that has very specific set of requirements with respect to funding a suspicion i have reviewed and i will say there've been 18 arb is, not a single one of them has ever been fully implemented. so i understand about this process. i'm just saying that the culture within the state department to me is one that needs to be transform. this committee can help. may be the next secretary of state can do. but the fact is there's a lot of work that needs to be done. >> senator menendez? >> thank you, mr. chairman. and i, too, want to say that senator lugar, that he is leaving behind an extraordinary, at this point untreatable serving many of the ways in the future, but an extraordinary career, and a lasting legacy in so many different ways that we appreciate your service, and certainly remember ambassador stevens as the hallmark of what foreign service is all about. you know, our challenge both here at home and abroad in the context of terrorism is that the terrorists have to only be lucky once. we have to get it right 100% of the time. it's a heavy burden. and not an easy o
leverage to turn the country around, prevent it from becoming greece and save social security and medicare. >> as a practical matter no matter what congress and the white house do before the end of the year it is already too late for most employers to accurately withhold taxes from the january pay checks unless there is no change so workers will feel immediately for example that 2% hike in social security taxes in those first january pay checks. carl? >> i hate to work in an accounts payable department over the next couple weeks, hampton. it is going to be kind of nutty. thanks so much. hampton pearson in washington. procrastinators across the country are hitting the malls today to take advantage of the last-minute sales. find out which retailers are going to benefit the most. but first, rick santelli is working on something for a little later on. rick? >> and probably about a dozen minutes of course we'll come back and have a guest and who would be the perfect guest on a christmas eve where there is so much going on in the world of finance, politics, of course you must have guessed it. ir
approaches greece-like levels. and they went so far as to bond out their debt service. issuing bonds to pay their interest and that is just a true muni bond person. that is like a knife in the heart, pain. >> don't go anywhere. stick around for the rest of the hour. thank you for being here on this holiday. >> glad to be here. >> what are you looking at? >> nothing. >> the red. >> it's like orange on camera. >> it is a little orange. >> is this a holiday? you keep saying that. >> we've been doing all sorts of holiday things. really? >> so it is the holidays? >> yes, it is. >> i've got to get with it. anyway, coming up, how much you pay for something online could depend on where your computer is located. first, though -- >> i know. attention, boys and girls and santa fans everywhere. in a holiday tradition in north american air space defense demand or norad is ready to help you track the jolly old elf and his reindeer. the funniest line in vacation, the movie, christmas where they're at the dinner table and clark says that santa has been spotted coming across the border up north. and his cou
in the likes of portugal, ireland, some even to some degree in spain and greece. and that wouldn't have happened without the pressure in the markets. >> obviously. jim, we want to thank you very much for calling in on this new year's eve and wish you a happy 2013 to you, as well. >> happy new year's to you guys. good luck to you. >> things. >>> coming up, we're going to calm to some politicians and congress people. we have shelly moore-capito and congressman greg meeks of new york will join us on the show to talk about the biggest sticking points. at the top of the hour, vice chairman and republican policy committee chairman tom price will be our special guest. "squawk box" coming right back. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. impact wool exports from new zealand, textile production in spain, and the use of medical
prediction for 2012 correct. >> rubbing it in. >> greece will stain the euro in 2013. that's what lang merkel wants and she's holding the purse strings. she wants to be re-elected and doesn't want any cost of contagion in. the cost on a relative basis is cheap. mexico is the next hot market. almost unnoticed, our southern neighbor becoming an economic stronghold on its own. legal and financial reforms have led to a growing middle class. as china gets more expensive, mexico becomes more competitive in manufacturing. africa disappoints classic emerging markets of russia, brazil and china slow down from their heyday and so-called frontier funds have been started with a focus on the next hot growth area, focusing on africa and many believe now is the time. this is an overgeneralization. the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago,
slide to make us like greece, no longer a viable economic power. >> that was from the program " state of the union, close with this morning. a number of members of the house are point to try to make their way back for votes this evening at 6:30. the house taking up some 13 bills. here is how david hocking's of "congressional quarterly" termed this house session -- " >> nothing on the fiscal cliff, however. we will keep you posted on that. the senate gaveling out shortly for that caucus meeting in particular. taking a look at your twitter messages,-tag is fiscal cliff. -- the hash tag is fiscal cliff. >> also, this twitter message from about 30 minutes ago -- >> helen is in northport. you are on the air. caller: good afternoon. i am glad i lived in a country that allows me to make this phone call and speak my mind. i adhered to the u.s. constitution. rep. ron paul was giving his retirement speech and to his credit, to his credit -- to me makes a lot of sense. i believe him when he says our liberties are being weakened. i am so sorry that they tried to discredit him. he makes a lot of s
they got a tax credit for hiring people if we get this under control so we are not talking about greece and we are not talking ourselves to death. the fiscal sanity then yes, why, because we have markets for products and services i predicted at that point that act would be right where we are are going to be at the end of this year. we had a year-and-a-half to come and work together and build a bridge so that we wouldn't fall off the cliff. and what did we do? electioneered waiting until they are over. when he elections are more important than governing this country coming to get into the trouble that we are in. it's not just wild spending. it's not just tax loopholes. it's about governing and fiscally managing things as you go along. and it doesn't just have to be in the white house, it has to be in congress as well. >> given the frustrations in the process, if a grandchild can to you and said i want to go into politics, would you be discouraging of their intent? >> i would be straight forward with them. when i decided i wanted to run for governor, somebody asked me if my skill was big
greece in the uprising against the turks? [laughter] that, by the way, is a very profound joke. if you are an empire that wants to make sure you play by the rules, it is always good to have a group that is discriminated against and they will go off to build an empire. it is very important. it just came to me with that? if you look out the rest of the democratic world, the spaniards, you name it, they're not exactly gung ho about putting their blood on the line when it comes to pursuing our values. the point, i guess, here is that you always have to have somebody who runs the show. there has to be one of very large power. usually it is anglo-saxon. we are now in a phase of american development with the power that has carried the burden over the last 60 years, as we all know, wants to lead from behind and is retracting from afghanistan, from iraq, and they're now exerting their power from afar and from above. drones above, boots on the ground. i fear if nobody takes on the responsibility of organizing and maintaining, it will not be in the of -- will not be india. >> go ahead, minister.
look for greece to increase tax rates on the wealthy next year. >> what do they say about sequestration's and also changes to entitlement programs? >> interestingly, the debt limit does not address in this proposal. you will collin they proposed a change in the way the debt limit who was released. if you are asking their aides, and they tell us the speaker would be open to increasing the debt limit, but he is sticking to his rule that it must be accompanied by cuts and spending reform equal to or greater than the increase. it could be put on the table for negotiation. they are not laying out specific changes to medicare and medicaid. they want $600 billion in health savings. they mention things that have been mentioned for a year-and-a- half, including the eligibility age for medicare for a number of years and also means testing medicare benefits so they either pay more in premiums or receive less in benefits. the change to social security is also something that has come up repeatedly in these negotiations, which is a change to the way the benefits year- over-year are calculated for the
is going on in greece and spain and portugal. it leads to these unemployment rates of 20% in some of these countries. host: mr. bivens? guest: that is not what caused the debt in those countries. i think it shows they do not have an independent monetary policy. they cannot have an independent central bank that just prints money the way that we do. i think it is the un-wisdom of the currency union. there is no evidence that countries that our welfare states are in bigger trouble. with the previous caller, i totally agree. the skills of workers more unemployed is not much of to an employer's. -- employers. if there is was this unmet demand for skilled workers out there and employees had openings but there were not the right people, you would see wages spiking in all sorts of occupations. i do not see wages spiking in any sector of the economy right now. the idea that there is this diagnosis that, it is too bad you people are not employed, you people do not have the right skills, there is no evidence that is going on. host: jim on the republican line, from maine. caller: i thank unem
in greece and spain. imagine what the minority unemployment would be if we had a 25% unemployment rate on average. we see pensions being cut without any notice at all. we see social price ramps slashed. so i would think if we can convince the representatives of the so-called disadvantaged groups that there is at least some probability that that will happen to us, i would say a certainty that will happen to us eventually if we don't do something about the situation, i would think there would be much more sober in their demands. but at this moment i don't see it. >> i would say, you know, that a lot of this is, you know, if we are talking inside the beltway, that is a different conversation of we go outside the beltway. part of the disservice that the debate is having today is that it is -- it is steering away from what the real issues are, the most pressing issue, which is the potential for a sovereign debt crisis and more optimistic. you know, steering the conversation away from that. and it is not helping ordinary americans understand what the threat is over a somewhat longer term. of
,000 atms and etc.. the same time to do it a in a way we can provide greece service for them regardless of how much revenue is available for them. a lot to talk about what we are doing and not doing. we have a great transaction platform for core a america. we have kept prices down. what we are looking for is, what is the model to serve customers going forward? we are seeing 70,000 do bubble banking customers. half a million czechs get deposited by people taking pictures of them now. the behavior has changed so fast 20 million texts that go out every month saying imbalance as well, make sure you do not overdraft. all of that put together is a tremendous level to serve customers traditionally with branches and atms and things like that. you can provide better service and you do not have to charge fees. >> we have time for a few questions from the audience. if i can ask you to -- it state who you are and who you are with. if you could also keep your questions >> so we can get to as many questions as possible. i think i have somebody walking around with microphones. >> are you indicating or
maybe greece, i guess, would take number one. >> we do know that the u.s. spends a larger percentage of its gdp on health care than any of the other developed nations by a fairly significant amount. so really tackling that underlying issue of what percent of our economy is going to health care in general is really the key issue, and we should be focused on that, i think, much more than the federal government's portion of it. and in this case where you have a proposal that would actually increase the share of gdp going to health care is taking us in the wrong direction. >> that is assuming that medicare spending equals medicare costs. and, again, as somebody who actually ran the program, i'm not assuming that. >> do you want to do that one? sure. >> david, this one is definitely for you specifically and aarp. the question is this: what scoreable savings proposals does aarp support for medicare beyond just better care coordination? does aarp support means testing, combining parts a and b cost sharing or medty gap reforms or anything else? >> well, i think it's important to remind every
maybe greece would take number one. >> we to know that the u.s. spends a larger percentagpercentag e of gdp on health care than any other developed nation by fairly significant amount. really tackling that underlying issue of what percent of our economy is going to health care in general is really the key issue and we should be focused on that much more than the federal government's portion of it and in this case we have a proposal that would actually increase the share of gdp going to help her, taking us in the wrong direction. >> that is assuming that medicare spending with medicare costs and again as somebody usa ran the program -- [inaudible] >> this one is definitely for you specifically and aarp. the question is this. what scorable savings proposal does aarp support or for medicare, beyond better coordination does aarp support means testing, combining parts a and beet are sharing our medigap reform or anything else? >> i think it's important to remind everybody that we recently had a large health care bill called the affordable care act which include $720 billion in medicare sa
of not becoming greece or getting out of debt. this won't affect the debt situation. >> sort of hats off, wink, wink. >> the president told "meet the press" they hope to get a deal condon in the next 48 hours. >>> police say a guy broke into a woman's home and drove her to the bank of america branch where she worked. she triggered an alarm but the suspect escaped before police arrived. it took the bomb squad three hours to remove the device from her neck. she did escape unharmed luckily. >> a best friend becomes a hero after rescuing a boy who fell through the ice in iowa. they were walking on a lake when the ice gave way, sending 11-year-old ashton eckenrod into the water. >> i thought i was going to die from it. and just not see my family any more. he didn't say anything. he was just leak freaking out. i didn't know what to do so he just grabbed my hand. >> his 10-year-old friend managed to slide across the ice and pull him back out. they are both doing just fine. >>> and think you are neurotic? that could be a good thing, you guys. >> thank good glance and you came down the hall and wouldn'
in greece. so by all means, let's complete a deal today so we can go home. let's complete a deal. let's raise taxes. let's stick it to those rich people. let's not touch spending. and let's pretend as if we've done something. the deal will do absolutely nothing to save this country. two-thirds of your spending up here is entitlement. the president has taken entitlement off the table. we will not reform the entitlement programs. why are the entitlement programs broken? is it republicans' fault or democrats' fault? no, it's your great-grandparents' fault. they had too many kids. it has nothing to do with partisan politics. there were a whole bunch of babies born after the war and then there have been less babies born with each generation. it's nobody's fault but it's not working. we spend more on social security than comes in in taxes. that's a problem. on medicare it's even worse. we spend $3 for every $1 you collect in medicare. anybody think that's going to work? it's been going on for a long time now, and it's getting worse. we owe $35 trillion to $40 trillion on medicare and it's n
at the university of virginia. is also the co-author of arthur ashes fetching memoir, titled days of greece. rampersad is a professor in the humanities america's at stanford, and these help fellowships of the mccarthy, guggenheim and rockefeller. he's an elected member of the american academy of arts and sciences, and the american philosophical society. 2010, he received the national humanities center, which was presented to them by president obama in a ceremony at the white house in 2011, the nation's highest honor conferred upon a human. arnold rampersad has been a model and a mentor for literary scholars for more than three decades, and i include myself among that number. among those of us indebted to him for his insistence upon the university, for his insistence upon the universality of stance, of truth for the capital, and beauty with a capital b., and as dubois would have a. he combines the fullest embrace of his biographical subject humanity, with the courage to confront the fullest range of that humanity. qualities that are all too rare, even among our most lauded biographers. quali
of greece? not at all. the simple truth is we are almost close to a position with the status quo would solve our problems. that is to say the expiration of the tax cuts pretty much take care of our intermediate deficit problem and implementation of the cost saving measures strengthened over time in the aca will deal with their long-term health care problem. so we are not that far away and we have other tremendous strengths in our country that would allow us to make the kind of investment to transform the economy, to do with the reality of stagnant wages and a sense of diminished opportunities. we have strengths. we can do it. we need the public to rain and behavior that's destructive and we need political leaders to act forcefully. given enough to bipartisan commissions and searched enough for bipartisan consensus. for sensible hard all politics along these lines. >> norm, i particularly cutie take the money question. a couple political had a great shared that showed that party polarization in congress was directly correlated with increasing concentrations of wealth from increasing equality
Search Results 550 to 579 of about 580 (some duplicates have been removed)